Why Apple loves China
When Apple began manufacturing the iPhone, the company estimated that it would take nine months to find 8,700 qualified industrial engineers in the U.S. to oversee assembly-line workers. In China, it took 15 days.
The New York Times
Earnings: Hedge-fund investors vs CEOs
The richest 25 hedge-fund investors earned more than $25 billion in 2009, about six times as much as all the chief executives of the 500 largest publicly held companies put together. Hedge-fund investors pay federal taxes on their income at the capital gains rate of 15 percent.
Where the money goes...
The average American worker spends more than $20 a week on coffee, or $1,092 a year. But that’s still less than what we spend on lunch and getting to and from work: The average annual cost of commuting rings in at $1,476, while lunch sets us back an average of $1,924, or $37 a week.
Salaries in Silicon Valley set a record
Average yearly salaries for Silicon Valley technology workers hit a record high last year, at $104,195. Start-ups and the success of firms like Facebook, Zynga, and LinkedIn have driven a hiring war for software engineers and other skilled workers.
The Wall Street Journal
Tuition for the Class of 2034
If U.S. college tuitions continue to rise as they have for the past three decades, today’s newborns—the Class of 2034—will face bills of $110,432 a year at the country’s priciest universities.